MUMBAI: Mausmi SA Investments and Mausmi Ventures, affiliates of private equity firm SUN-[Apollo], and Mumbai-based realty developer Keystone Realtors Pvt Ltd., flagship company of the Rustomjee Group, one of the leading developers in Mumbai, have resolved all their differences.

Mausmi SA Investments and Mausmi Ventures had invested approximately [Rs 235crores] in Keystone in May 2009.

An entity controlled by the promoters of Keystone has purchased all the securities of Keystone held by Mausmi SA Investments and Mausmi Ventures. As a result, Prakash Kalothia and Sorabh Jain, the two investor nominee directors, have stepped down from the Board of Directors of Keystone.

On this occasion, Boman R. Irani, the chairman of Keystone said, "I am pleased to announce that [given the tough macro-economic environment, this is a significant exit for a real estate fund in a 4-year time frame. This continues to show our commitment to investors and shareholders who have always believed in us.]".

A spokesperson of Mausmi SA Investments said,"We are happy to have reached a cordial settlement with Keystone". Prakash Kalothia added, "Sorabh Jain and I had the opportunity to serve on the board of Keystone for the last few years and have enjoyed working with the promoters and the management team. Keystone has built a formidable organization in the Mumbai Metropolitan Region. We wish them all the very best as they take their organization to the next level of growth."

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Mausmi SA Investments and Mausmi Ventures, affiliates of private equity firm SUN-[Apollo], and Mumbai-based realty developer Keystone Realtors Pvt Ltd., flagship company of the Rustomjee Group, one of the leading developers in Mumbai, have resolved all their differences.